F5 Networks price target raised to $230 from $215 at Morgan Stanley

Morgan Stanley raised the firm’s price target on F5 Networks (FFIV) to $230 from $215 and keeps an Equal Weight rating on the shares. Q4 results were better than expected, mostly on software, and the outlook was raised on a slightly more attractive enterprise spend environment and share gains as well as upcoming price increases. However, with the stock’s roughly 20% move over the last three months, the firm thinks F5 need to see greater confidence in the software story to push the multiple higher, the analyst tells investors.